Canadian GDP by Industry for January

On Friday, Statistics Canada (StatCan) released gross domestic product by industry data for January.

Real gross domestic product (GDP) grew 0.4% in January, following a 0.3% increase in December. Both goods-producing and services-producing industries were up, with 13 of 20 sectors higher.

Goods-producing industries contributed the most to the increase—rising 1.1%, the largest increase since October 2021—as all industrial sectors in the aggregate expanded. The mining, quarrying, and oil and gas extraction and manufacturing sectors were the largest contributors to growth.

Services-producing industries edged up 0.1%.

Construction

The construction sector rose 0.7% in January as most types of construction activity expanded.

Residential building construction was up 1.4% and was the largest contributor to the increase in January, posting its fifth increase in six months and bringing activity to its highest level since November 2023. Higher multi-unit construction activity in Ontario and greater activity in home alterations and improvements drove the increase.

Repair construction was up 1.2% in January, while nonresidential building construction increased 1.2%, posting its sixth consecutive increase, driven by higher activity in public and industrial building construction.